WILLIAMSPORT, Penn.–Horizon Federal Credit Union here said it will convert their core processing system to NewSolutions by Share One on Nov. 1.
Justin Howard, president/CEO of the $72 million credit union, said the he desire to utilize a core system that could efficiently scale with innovative product offerings was the that drove their credit union to look for a new core partner.
“Our present core system is currently maxed out of suffix options and doesn’t offer all the solutions that we need as a growing credit union,” said Howard. “When searching for a new core, our desire was to find a system that would foster our growth and improve efficiencies by minimizing our third-party vendors. In order to facilitate membership growth we wanted to include an Affinity Debit Card program, a custom tier-based ODP program, and a relationship-based patronage program. With NewSolutions, we will be able to design these programs within the system without having to seek solutions via third-party vendors,” he said.
Howard cited the recent field of membership changes by NCUA as great news for his credit union, because they would like to expand from serving their two counties to additional counties in their area. “Our credit union has experienced tremendous loan growth, up from 49% to 73% Loan to Share ratio. We need a core system that promotes workflow efficiencies and doesn’t hinder our productivity or our members’ accessibility to their funds."
In a statement, Memphis-based NewSoutions said the credit union worked together as a team to zero in on the significant, critical core processing functions that will assist the credit union the most in reaching its five year strategic plan. Their due diligence included evaluating seven core proposals, which led to four onsite demonstrations. Staff systematically rated each demonstration, compiled the results, and then compared them on an equally applied scale. Share One was selected as the top contender and achieved the highest “ease-of-use” rating by staff.
“We are so pleased to become a partner of Horizon Federal Credit Union,” said Don Conrad, SVP Sales at Share One, Inc. “Their organization will continue to grow and succeed as they discover all of the nearly limitless abilities to utilize NewSolutions because the system is so robust. Additionally, the bond of Share One clients is strong, so Horizon’s staff will have the opportunity to network with other NewSolutions users and our staff to enhance their utilization of the system now and in the future,” he said.
Share One, Inc. is a CUSO with CU clients ranging from $10 million to $1.8 billion in assets.